It seems Turbotax still uses the HBP limit from the last year ($25,000). When I report $35,000 from the HBP, the extra 10,000 are added as an RRSP income which is not correct. Please fix this error ASAP.
Please note that I used the standard version installed from the CD and also downloaded the online version and both have the same problem.
I have the same issue. I have attempted to go into the Forms view, in the HBP form, I attempted to edit the "Excess HBP withdrawal" (box 22) value. TurboTax presents me with the error "*** NOTE: PLEASE "DOUBLE-CLICK" TO EDIT THIS FIELD ***", however double clicking does not allow me to edit the field. I have been able to edit other green values. When I double click on other green values, I'm taken to a separate form to edit.
I understand that the maximum amount that can be withdrawn via the HBP changed from 25,000 to 35,000 during the year. My T4RSP didn't have any indication of when the transaction occurred, and TurboTax didn't inquire about when the transaction occurred.
Intuit, how can we zero out the "Excess HBP withdrawal" amount?
Thanks
I must be blind. There is a "Was your Home Buyers' Plan withdrawal made after March 19, 2019?". Clicking on "Yes" resolves the problem for me.
I had the exact same problem with the same version of TurboTax, but I can't find this question about the date. Which form includes it? Thanks!
HI,
Download the latest version from TurboTax website:
Continue with your file and it will be fixed in the HBP section after the RRSP section.
Thanks,
Ayman